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Selected financial data of two competitors, Target and WalMart, are presented here. (All dollars are in millions) Suppose the data were taken from the
Selected financial data of two competitors, Target and WalMart, are presented here. (All dollars are in millions) Suppose the data were taken from the 2022 financial statements of each company. Target (1/31/22) WalMart (1/31/22) Income Statement Data for Year Net sales $64,948 $401.244 Cost of goods sold 44,157 306,158 Selling and administrative expenses 16,389 76,651 Interest expense 894 2.103 Other income 28 4,213 Income taxes 1,322 7,145 Net income $2,214 $13,400 Target WalMart Balance Sheet Data (End of Year) Current assets $17,488 $48.949 Noncurrent assets 26,618 114,480 Total assets $44,106 $163,429
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